Natural Gas (NG1) Down 6.87%; Breaks Below 50 Day Average

Natural Gas Daily Price Recap

The choppiness in the recent daily price action of Natural Gas continues; to start today, it came in at a price of 1.802 US dollars, down 6.87% ($0.133) since the previous day. Relative to other instruments in the energy commodity asset class, Natural Gas ranked 4th since the previous day in terms of percentage price change. Here is a daily price chart of Natural Gas.

Natural Gas Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Natural Gas crossed below its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For another vantage point, consider that Natural Gas’s price has gone down 6 of the previous 10 trading days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Natural Gas for the past day were:

  • From JenniferGame6:

    The RBA says Australians who want to benefit from our natural gas should buy shares in foreign owned gas companies (we get paid $300 million in tax on $55 BN of export sales). Is it time for the government to buy oil & gas projects while they are cheap? @PaulineHansonOz #oil

  • From RiotwomennnTemp:

    @Jen_Grinnell @mattmfm @yashar When highways have to be closed down because of ice, when neighborhoods have to evacuate because of a natural gas leak, public pools shut down because of contamination Cities and states often close down areas to protect the publicNot sure why this is so hard to understand

  • From JenniferGame6:

    Foreign owned multinational gas companies will never pay for the natural gas they take from Australia and they won’t sell it to us but they do sell it to Japan & China giving them an energy cost advantage over us but still Our government won’t act. @PaulineHansonOz #auspoI

In terms of news links for Natural Gas here’s one to try:

North Dakota flared 19% of its natural gas production in 2019 – Today in Energy – U.S. Energy Information Administration (EIA)

In 2019, North Dakota flared 19% of its gross natural gas production, or 0.56 Bcf/d….Insufficient natural gas processing capacity and lack of pipeline infrastructure in North Dakota have resulted in lower compliance with the state’s natural gas capture goals since 2018….Limiting natural gas production in North Dakota also constrains oil production because most natural gas comes from oil wells….An additional 0.9 Bcf/d of natural gas processing capacity is expected to enter service during 2020 and 2021, according to the North Dakota Pipeline Authority.